Brooklyn FI LLC Makes New Investment in Principal Financial Group, Inc. (NYSE:PFG)

Brooklyn FI LLC purchased a new position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 3,648 shares of the company's stock, valued at approximately $307,000.

A number of other large investors also recently modified their holdings of the business. Curio Wealth LLC acquired a new position in Principal Financial Group during the 4th quarter valued at $29,000. BankPlus Trust Department bought a new position in shares of Principal Financial Group during the 4th quarter worth about $33,000. Truvestments Capital LLC acquired a new position in shares of Principal Financial Group during the third quarter valued at about $43,000. Prospera Private Wealth LLC bought a new stake in shares of Principal Financial Group in the third quarter valued at about $45,000. Finally, Sugarloaf Wealth Management LLC grew its position in Principal Financial Group by 53.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock worth $43,000 after buying an additional 195 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Price Performance

Shares of PFG stock traded up $1.99 during trading hours on Monday, hitting $85.25. 802,118 shares of the company's stock were exchanged, compared to its average volume of 1,135,361. The stock's 50-day moving average is $83.65 and its 200-day moving average is $83.48. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.98. The stock has a market cap of $19.23 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17.

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Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be paid a $0.75 dividend. This is a boost from Principal Financial Group's previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend is Wednesday, March 12th. Principal Financial Group's dividend payout ratio (DPR) is 44.91%.

Analyst Upgrades and Downgrades

A number of analysts have commented on PFG shares. Barclays raised their price objective on Principal Financial Group from $77.00 to $80.00 and gave the stock an "underweight" rating in a research report on Friday, February 7th. Morgan Stanley reissued an "underweight" rating and issued a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. BMO Capital Markets began coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They set a "market perform" rating and a $93.00 price objective for the company. Piper Sandler increased their price target on shares of Principal Financial Group from $90.00 to $93.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $91.00 target price on shares of Principal Financial Group in a report on Thursday, January 16th. Four analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Principal Financial Group presently has a consensus rating of "Hold" and an average price target of $85.92.

Principal Financial Group Profile

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.